Cygam Energy Inc.
TSX VENTURE : CYG

Cygam Energy Inc.

December 09, 2011 12:06 ET

CYGAM Energy Inc. Announces Closing of Financing

CALGARY, ALBERTA--(Marketwire - Dec. 9, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

CYGAM Energy Inc. ("CYGAM " or the "Corporation") (TSX VENTURE:CYG) is pleased to announce that the Corporation has completed its previously announced non-brokered private placement (the "Private Placement") of common shares of the Corporation (the "Common Shares").

Pursuant to the Private Placement, the Corporation issued 5,200,000 Common Shares at a price of $0.25 per share for aggregate gross proceeds of $1,300,000 to an insider of the Corporation. CYGAM intends to use the net proceeds of the Private Placement for general working capital purposes.

About CYGAM Energy Inc.

CYGAM is a Calgary based exploration company with extensive international exploration permits and producing properties in Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 3.0 million gross acres. Visit the CYGAM website at www.cygamenergy.com for more information about CYGAM.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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